Is sentiment too high for gold?

Marc Faber has been bullish on gold for a long time and I've followed him into GLD as well, but now he's calling for gold to hit $10,000. Sentiment is as high as ever now. The inflation adjusted high form the 1970's is $2200.

One aside on this video, as pessimistic as Faber has been on the world economy (and history as proven him correct), he says that he is "not a heavy short-seller" and states his wealth is divided in equal quarters of 1) stocks, 2) gold/silver, 3) real estate and 4) cash. Not bad advice, although I think it's time to take some gold and US Treasuries off the table.. the risk-off trade is getting overdone.